Here’s a good news for India. After US and China (US being in the first position and China second) India has been ranked 3rd as the World’s largest tech innovation leaders. Famous cities like Shaghai, London, Tokyo, and New York are some of the cities with leading tech hubs.
After a survey done by KPMG between November and December, It was determined that the aforementioned countries bagged the first three positions. This news will prove to be a major boost to the innovation and technology department of India. The survey report also shows the global leaders in tech innovation. It also reveals what are the latest trends that are driving the tech innovations in the companies.
13% of global technology industry leaders agreed that India has a high potential for tech breakthroughs. According to the report, this is what seemed to work for India: “India has prioritized government support for entrepreneurship and a burgeoning culture of innovation. Many start-up business models are leveraging emerging technologies to cater to India’s mobile-first generation”.
Akhilesh Tuteja, Head of Technology, KPMG in India said, “Start-ups are at the core of India’s transition journey towards becoming a leading innovation hub in the world. With the young and dynamic pool of entrepreneurs and skilled workforce, India is likely to become a focal point to generate innovative ideas in the near future.”
At 34%, the US still strongly continues to maintain its ranking, and showing almost just as much growth is China, hence the second rank. The report said that there’s a good momentum with which the US is continuing its tech innovations, and other countries are trying to duplicate the Silicon Valley success. The report said, “In addition, market cap technology companies are spreading the headquarters and operations across many US hubs, feeding economic growth opportunities and the creation of a more diverse innovation ecosystem.”
By leaving no stone unturned to bring to the market products and services that are tech-savvy, China has gotten 26% votes. “In China, the government-industry collaboration, the aggressive investment of tech giants in start-ups, and massive addressable markets are fostering innovation.”
AS of now, India, the United Kingdom and Japan has 6% votes. Compared to last year’s data, India saw a drop, while the latter continues to show its tech caliber with it current ranking.